Economics Answers

The income of a consumer increases by 10% resulting in a 12% increase in the demand for particular product. What type of a product is that

Tommy eats only green eggs and ham. He has an income of $36. Green eggs have a price of $2 and ham has a price of $6.
a. On the graph below, draw in Tommy’s budget constraint. Put ham on the horizontal axis. Suppose Tommy’s income increases to $54. Also suppose that the price of ham and egg each rise by $10. Construct Tommy’s new budget constraint. What is the difference between the new and old budget constraints?

Suppose the MPC for south Africa equals 9/10. The tax rate = 1/6 and mY = 1/12 if there is a negative spending shock (decreased net exports) of R300 billion, what will be the effect on total production or income in south africa?

Assume that in an economy with taxes and imports, the MPC = 0.75, t=0.25 and m = 0.3. The multiplier is

Assume that as part of its 2018/2019 budget, the south African government has earmarked infrastructure development as one of its key focus area for the Fiscal year. Applying this information within the Keynesian framework, the unplanned increase in government spending will

If marginal propensity to save is 0.6 and the government decreases its spending by R50 billion, then south africa ' s real GDP or total income will

If marginal propensity to save is 3/4, then the marginal propensity to consume is

You are told that lebogang consumes half of every extra rand she receives. In addition, she receives R50 monthly as student living allowance from the south African government. The expression for consumption functions can be written as

Tangi loves unam shandy,which she makes by combining one glass of oshikandela and two scoop of ice cream.pandu is on a diet that assigns points to food and drinks .one glass of oshikandela is one point and one scoop of ice cream is one point.she can consume any combination of oshikandela and ice cream as long as the total number is two points ,what kind of goods are oshikandela and ice cream for pandu

The decision by a firm to invest is based upon the following, except